The death of America: the world will soon abandon the dollar
Today, the dollar is the world's main currency, the hegemony of which provides financial, economic и political power of the USA. It is said that whoever prints the dollar owns the world. This expression is quite applicable to modern reality, but many financiers are confident that the undivided dominance of American money will soon come to an end.
The world situation is changing, the world is becoming multipolar, and the United States will sooner or later lose their dominant position. Donald Trump’s “tough” policies, trade wars and armed conflicts around the world, anti-Russian sanctions are just US attempts to delay the end of his hegemony.
Today, an increasing number of countries are disappointed in the United States. And there are quite logical explanations for this, since American politics is becoming less and less predictable and more and more closed only on narrow American interests. Donald Trump undermined the authority of the United States around the world, managed to worsen Washington's relations not only with Russia and China, but also with its closest allies in Europe. Now the United States is seen as an unreliable partner, which should not be trusted and with which, if possible, should not conduct common business. This also applies to military contacts, and political cooperation, and economic ties. The world begins to make efforts to free itself from dollar dependence. So, Russia and China are switching to national currencies among themselves.
The sanctions to which the United States resorted to Russia and Iran also played a role in weakening the dollar. The American leadership uses a policy of sanctions to protect its interests, but in fact, sanctions are more likely to harm the United States, undermining their authority in the world and contributing to the ever greater exclusion from the US of even European allies. All Washington’s sanctions policy rests solely on the fact that so far it is shared by the European Union. As soon as Brussels refuses to support American sanctions, they will become simply meaningless. And this prospect is not so distant - in Europe right now they are very dissatisfied with the American sanctions policy, as a result of which Germany alone suffered losses of $ 44 billion.
However, not only political factors influence the reduction of the dollar. The US share in total world production is gradually declining, due to the growth of the economies of China, India, and other Asian states. In this situation, many countries begin to diversify their financial reserves, preferring to store stocks not only in dollars, but also in euros, pounds sterling, yens, and now in yuan. Not so long ago, the Shanghai Exchange began trading in RMB oil futures, and now the London Metal Exchange (LME) is about to launch metal futures in RMB. Moreover, the renminbi’s position will only grow stronger, since China has now become the world's second largest economy.
As soon as the dollar hegemony comes to an end, a severe blow will be inflicted on the positions of the United States as a world power. It is the dollar that keeps not only the American economy, but also the US-controlled military-political institutions, including NATO. There will be no dollar - there will be no American influence on the whole world.
The world situation is changing, the world is becoming multipolar, and the United States will sooner or later lose their dominant position. Donald Trump’s “tough” policies, trade wars and armed conflicts around the world, anti-Russian sanctions are just US attempts to delay the end of his hegemony.
Today, an increasing number of countries are disappointed in the United States. And there are quite logical explanations for this, since American politics is becoming less and less predictable and more and more closed only on narrow American interests. Donald Trump undermined the authority of the United States around the world, managed to worsen Washington's relations not only with Russia and China, but also with its closest allies in Europe. Now the United States is seen as an unreliable partner, which should not be trusted and with which, if possible, should not conduct common business. This also applies to military contacts, and political cooperation, and economic ties. The world begins to make efforts to free itself from dollar dependence. So, Russia and China are switching to national currencies among themselves.
The sanctions to which the United States resorted to Russia and Iran also played a role in weakening the dollar. The American leadership uses a policy of sanctions to protect its interests, but in fact, sanctions are more likely to harm the United States, undermining their authority in the world and contributing to the ever greater exclusion from the US of even European allies. All Washington’s sanctions policy rests solely on the fact that so far it is shared by the European Union. As soon as Brussels refuses to support American sanctions, they will become simply meaningless. And this prospect is not so distant - in Europe right now they are very dissatisfied with the American sanctions policy, as a result of which Germany alone suffered losses of $ 44 billion.
However, not only political factors influence the reduction of the dollar. The US share in total world production is gradually declining, due to the growth of the economies of China, India, and other Asian states. In this situation, many countries begin to diversify their financial reserves, preferring to store stocks not only in dollars, but also in euros, pounds sterling, yens, and now in yuan. Not so long ago, the Shanghai Exchange began trading in RMB oil futures, and now the London Metal Exchange (LME) is about to launch metal futures in RMB. Moreover, the renminbi’s position will only grow stronger, since China has now become the world's second largest economy.
As soon as the dollar hegemony comes to an end, a severe blow will be inflicted on the positions of the United States as a world power. It is the dollar that keeps not only the American economy, but also the US-controlled military-political institutions, including NATO. There will be no dollar - there will be no American influence on the whole world.
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